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Announced

Completed

South32 completed the acquisition of a 45% stake in Sierra Gorda from Sumitomo for $2.2bn.

Financials

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Transaction Value£1,613m
Consideration TypeContingent Deferred Consideration, Cash
Capital Owned-
Capital Bid For45%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Chile

Private

Copper

Friendly

Cross Border

copper mine

Acquisition

Single Bidder

Minority

Infrastructure

Completed

Synopsis

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South32, an Australian incorporated diversified metals and mining company, completed the acquisition of a 45% stake in Sierra Gorda, a copper mine, from Sumitomo, a firm that provides export trade, technology transfer, supply chain management, project management, marketing, transportation, and distribution services, for $2.2bn. “We are actively reshaping our portfolio for a low carbon world and the acquisition of an interest in Sierra Gorda will increase our exposure to the commodities important to that transition,” Graham Kerr, South32 CEO.

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